CIAC pleased to see its recommendations included in new North American trade agreement
October 03, 2018
The Chemistry Industry Association of Canada (CIAC) congratulates the Canadian federal government and the negotiating team for finalizing the new U.S.-Mexico-Canada Agreement (USMCA).
In early 2017, the North American chemistry industry, represented by the CIAC, the American Chemistry Council (ACC), and Mexico’s, Asociación Nacional de la Industria Química (ANIQ), issued a joint position outlining the industry’s priorities for a potential renegotiation of the North American Free Trade Agreement (NAFTA). CIAC is pleased to see that many of the recommendations advanced by the three associations are reflected in the final agreement.
“It is a testament to the integrated nature of the North American chemistry sector that we were able to agree on these recommendations and then see many of them heeded in the final agreement,” said Bob Masterson, President and CEO of CIAC. “We are particularly pleased to see that in the area of regulatory cooperation, the USMCA signatories have reaffirmed their support for a risk-based approach to chemistry management.”
While further study is needed to fully assess the impact it will have on Canadian chemical manufacturing, this new trilateral trade agreement appears to provide investor certainty and build a strengthened platform for trade across the highly integrated, North American chemicals supply chain.